Delacorte Press published Murphy and Wolkoff's novel Ace Hits Rock Bottom in 1985. In this second book of the Ace series, Ace and the gang are back on the streets of New York City—in debt. Their movie careers fizzled quickly, and they need jobs to pay for all the goodies and gadgets they bought in advance of their earnings. Desperate for acting work, they leap at their shady agent's offer to work at the Wartzburg Theater in the Bronx, only to discover that it is not a theater at all—but a rest home for aging actors.

The gang's new jobs happen to be in the territory of a rival gang, the Piranhas. After facing the dreaded Piranhas in Ace Hits the Big Time, Ace and the gang do not want to cause trouble. How Ace and the Falcons deal with the Piranhas, earn the muchneeded money...